2010 Best Practices Study
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
Mgmt. Perspectives
Revenue by Specialty/Niche
Profile
Average
+25% Profit
+25% Growth
Revenues
% of Agencies having an Industry and/or Product Specialty/Niche Total INDUSTRY Specialty/Niche Revenues as % of Agency Net Revenue Total PRODUCT Specialty/Niche Revenues as % of Agency Net Revenue
55.6%
66.7%
50.0%
Expenses
Profitability
27.3%
19.5%
25.5%
Employee Overview
12.9%
14.1%
12.5%
Producer Info
Staff Service Info
Average Revenue per Specialty
% of Agencies Having Specialty
Technology
Top 5 INDUSTRY Specialties Energy
Insurance Carriers
$1,154,964 $1,064,567 $994,828 $937,350 $635,846 $565,323
2.3% 3.0% 2.3% 6.0% 3.8%
Health Care Hospitality Construction Transportation
Appendix
All Others*
16.5%
* “All Others” includes Schools, Churches, Fire Departments, Non-Profits, Auto Dealers, Grocery Stores, Recording Studios, Architects/Engineers, Public Entities, Fast Foods, Defense Contractors
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 PRODUCT Specialties Surety/Bonds
$510,352 $487,908 $312,426
1.5% 3.8% 0.8%
Professional & Management Liability
Captives
N/A N/A All Others*
$566,632
1.5%
* “All Others” includes Flood and Benefits
“Many disagree, but I think the day of the generalist insurance agent has largely come and gone. Our young guys really buy into this and their successes validate this. Our generalists simply face too much great competition.”
2010 Best Practices Study
Agencies with Revenues Between $5,000,000 and $10,000,000
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